A numeraire is
A) an average good.
B) a tax levied on each consumer.
C) a good used as a unit of account.
D) an optimal bundle of goods.
C
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The use of a tariff provides monopoly protection since
A) it allows more imports into the country. B) it reduces competition from imports by raising the import price. C) it reduces exporters' profits. D) it expands tax credits.
A firm will practice price discrimination when it believes that by doing so it will be able to increase total
A) sales. B) revenue. C) profits. D) production.
Advocates of comparable worth favor eliminating all differences in wage rates among employees of the same firm
a. True b. False
Which of the following pairs of goods would be most likely to be substitutes?
A) pasta and pasta sauce B) olive oil and vegetable oil C) chips and salsa D) tires and automobiles E) all of the above